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Market Check

Indian shares pared some of their gains weighed down by losses in large cap names like TCS, Bharti Airtel and HDFC.

Sensex up 110 points or 0.34 percent at 31,840

Nifty rises 0.40 percent to 9,957

BSE MidCap and SmallCap indices outperform Sensex, rise 0.80 percent

IT and Telecom indices slip 0.39 and 0.42 percent respectively

Realty Index rises the most since August 23, jumps as much as 3.26 percent

Created08:17:26 am

Strides Shasun Gains On Closure Of Inspection By U.S. FDA

Shares of the drugmaker jumped as much as 4.78 percent, the most in over two weeks, to Rs 948.50 after it received Establishment Inspection Report confirming closure of inspection of KRS Gardens facility in Bangalore.

Bajaj Auto Gains After August Sales Rise 3%

Shares of the two-wheeler maker jumped as much as 2.32 percent to Rs 2,879 after the company reported that its sales in August grew 3 percent to 3.35 lakh units year-on-year.

April domestic motorcycle sales fall 2 percent to 1.7 lakh units

Motorcycle exports rise 7 percent to 1.12 lakh units

Commercial vehicle domestic sales rise 13 percent to 28,995 units

Commercial vehicle exports jump 12 percent to 22,175 units

Updated04:31:41 am

Created03:53:14 am

Dr. Reddy's Labs Up Most In Over A Year

Dr. Reddy’s Laboratories rose as much as 8 percent, the biggest gain in six years, to Rs 2,183, after it won a ruling over three patents for Suboxone drug. Trading volume was 60 times the 30-day average of 2,856 for this time of day.

Sixteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Healthcare Index's 1.32 percent gain. On the other hand, the S&P BSE IT Index was the top loser after it declined 0.36 percent.

Updated04:00:27 am

Created03:46:53 am

Axis Bank Says Have Exposure To 12 Of Accounts Under RBI Directions

The country’s third largest private sector lender Axis Bank Ltd. said it has exposure to 12 accounts identified by the Reserve Bank of India in its second list for insolvency proceedings.

The total fund based outstanding was Rs 1,843 crore, while the non-fund based stands at Rs 649 crore, the bank said in an exchange notification. Around 75 percent of the outstanding loans from the 12 defaults is secured, Axis Bank said adding, it has made provisions of Rs 862 crore in 12 major non-performing assets.

The central bank has asked Axis Bank to resolve 12 major NPAs by December 13, the lender said.

Created03:18:59 am

Money Market Heads-Up

Government bonds are likely to gain today as the slowest pace of growth for the Indian economy is expected to boost easing hopes and may also pressure the central bank to keep rates lower for longer even as inflation accelerates.

GDP data on Thursday showed Indian economy grew at 5.7 percent in April-June period from a year earlier, the slowest pace since 2014. Finance Minister Arun Jaitley said the fall in GDP is a matter of concern, but added he is still hopeful of over 7 percent growth in the economy this financial year.

The Reserve Bank of India will auction Rs 18,000 crore of four government bonds, including Rs 9,000 crore of new 2031 notes. The Indian rupee, which has gained 0.2 percent in the week, may trade in a range today as investors await U.S. jobs report for clues on the Federal Reserve’s policy-tightening path.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, jumped 0.09 percent to 9,947.

Asian stocks traded sideways as investors await a U.S. jobs report for clues on the Federal Reserve’s policy-tightening path due Friday ahead of a long weekend in America. Equities in Seoul and Sydney edged lower while gained in Tokyo and Hong Kong.

U.S. stocks rose for a fourth day and the dollar strengthened after data bolstered optimism that the American economy is on firm footing. The S&P 500 Index pushed above its average price for the past 50 days, overcoming early weakness sparked by a Twitter post from President Donald Trump on North Korea.